My inclination, when I think about what makes sense in local marketing, is to ask, “What marketing vehicles pay for themselves, and which don’t.” You stop the ones that don’t and you keep the ones that do. You experiment with whatever you can. You look for the best negotiated price in every instance that you can. Your only philosophy is your return, not the future of media, not the habits of the young versus the old, not the implications of your three-year old’s ability to work your iPhone.
Seth Godin gets at this inclination in a strong and clear way: Seth’s Blog: Do ads work?.